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Technology Stocks : Ampex Corporation (AEXCA) -- Ignore unavailable to you. Want to Upgrade?

To: pezz who wrote (9184)	6/14/1999 7:52:00 PM
From: Michael Olds	Read Replies (2) \| Respond to of 17679

A couple of thoughts: 1. Second Quarterly Tax payments were due today. 2. I read the “Credit Swiss” institutional holder's name as: “Credit Swiss Asset Management.” I am familiar with a thing called PIMCO Asset Management. If names mean anything, maybe we need to adjust our picture of what this firm's holdings really represent. It may well be that they are managers of large holdings of institutions and wealthy individuals. The difference between this sort of institution and a mutual fund would be that the holdings are in the accounts of their customers, not in a pool owned mutually by all investors in an umbrella unit. The point being that the entire holdings (or at least very large amounts of it) could belong to one individual…one who got in trouble in the recent downdraft in the internet sector. One big seller does not mean very much in terms of the fundamental value of Ampex. 3. While we were delighted to learn that AXC had made the Russell 3000, some institutions and individuals may have been jumping the gun and buying in the past few weeks. Now it turns out that the final “culling” includes action in the stock that occurs during June. This could well change the inclusion status of AXC unfavorably, and there may have been some bailout action. 4. The action of the overall Internet market cannot be ignored. It surely was a huge factor in the lack of buyers and no doubt contributed to the selling pressure. 5. Triple witching occurs on Friday. I hear that it may be a non-event because all the adjustments have already been made. While it is true that there are no AXC options or futures that could be effected, the downward pressure on the Internets surely was, and that, as mentioned before, contributed to the downward pressure on AXC. Conclusion: This has been a maddening turn of events, but essentially one which has had nothing to do with the fundamentals for Ampex. Anyone who can should make every effort to wait this out. There is light at the end of the tunnel: while you all know I do not believe there will be any “huge” announcement made during this event (rumor would have gotten out by now, for sure!), I do believe it will be huge for Ampex to have our business plan presented formally. I am of the belief this will have a significantly positive effect on the share price.